Wheat prices hit a nine-month low on improved crop outlook

July wheat futures on the Chicago Board of Trade (CBOT) fell 1.34% to $5.15 per bushel on Monday, marking their lowest level in nine months.

Since peaking at $6.22 per bushel on February 18, prices have dropped more than 17% year-to-date.

Bloomberg reported that favorable rainfall in several key producing countries has boosted crop prospects. According to a survey of analysts, U.S. wheat stocks for the 2025–2026 season are forecast at 261.4 million tonnes, slightly above the 261 million tonnes expected by the end of the current season.

Still, Bloomberg noted that such inventory levels remain near a decade-low, leaving the market vulnerable to weather-related disruptions before harvest.